Atlantic Beach, NY -- (ReleaseWire) -- 09/18/2013 --Selectcommercial.com announced on Tuesday, September 17th, 2013, that it originated a $1,140,000 loan for the refinance of an apartment building located in Oklahoma City, OK.
The property is a 100 unit apartment building. The borrower refinanced for a lower rate and obtained a 7 year fixed rate loan with a 30 year amortization.
The borrower had difficulty obtaining financing with his local bank because he lives in Rochester MN and the property is located in Oklahoma City, OK. This did not present a problem for Select Commercial, as they do loans throughout the country.
Stephen A. Sobin, president of Selectcommercial.com provided the Rochester borrower with the loan.
Selectcommercial.com specializes in Apartment Building loans and commercial mortgage loans nationwide.
About Select Commercial Funding LLC and President Stephen A. Sobin
Stephen A. Sobin, has over 25 years of mortgage banking experience. His understanding of the market, underwriting skills, and in-depth knowledge of lender’s requirements guarantee that our clients receive the very best terms available in the market.